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CRY:BTC, Sep 25, 09:52 UTC

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This is an Important Price For Bitcoin

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Amid a tumultuous 2018, bitcoin, the largest cryptocurrency by market capitalization, continues fighting to stay above key technical levels while eyeing critical upside targets. Bitcoin’s all-time high of around $20,000 was seen in December 2017 and the digital currency has not even been close to flirting with those levels this year. Some market observers believe a return to $10,000 anytime soon will be challenging. “Bitcoin has pulled back from 17-days highs clocked over the weekend and risks losing bullish bias if prices close below $6,600, technical studies indicate,” reports Coindesk. “It's worth noting that the cryptocurrency found takers below that level on Saturday. So, the bears may want to see back-to-back UTC closes below $6,000 before jumping the gun.”. Some market observers believe bitcoin can rally into year-end, but that $8,500 might be the highest price achieved before the start of 2019.

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Mt Gox Trustee Has Sold $230 Million in Bitcoin, Bitcoin Cash Since March

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Gox website that over $230 million dollar's worth of bitcoin (BTC) and bitcoin cash (BCH) had been exchanged for fiat currency between March 18 and the start of civil rehabilitation on June 22. According to the notice, the trustee sold 24,658.00762 BTC and 25,331.00761 BCH – quantities that brought in 25,975,702,352 Japanese yen, or $230,269,821.82. Following the sale, the balance in the trustee account was "approximately JPY 70,059 million," or around $621 million, Kobayashi added. Explaining the move to sell off the cryptos before the civil rehabilitation was initiated, Kobayashi wrote it was "necessary and appropriate to procure a suitable amount of money to secure the interests [of] the creditors for the principal amount and delay damages of the determined and undetermined bankruptcy claims" before the trust was set up. While some creditors had applied for fiat refunds from the remaining holdings of Mt.

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Bitcoin Falls, as XRP Tumbles

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Investing.com - Cryptocurrencies were lower on Tuesday, while a report from the Bank for International Settlements found that government talk of regulation can have a negative impact on digital currency prices. Cryptocurrencies overall were lower with the coin market cap of total market capitalization at $208 billion at the time of writing compared to $219 billion on Monday. International coordination is the only way to properly regulate the digital currency market, researchers from the BIS argued in a report. The study, authored by two senior economists at the bank, states that in order to regulation of virtual coins to work, there needs to be cross-border coordination similar to current anti-money laundering standards.

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Tokyo Whale Sells $230 Million of Bitcoin in Mt. Gox Wind-Down

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Gox has offloaded another 25.98 billion yen ($230 million) of Bitcoin and Bitcoin Cash. The disposals were made in the period since the 10th creditors meeting was held on March 7, Nobuaki Kobayashi said in a statement on Tuesday. Gox, once the largest Bitcoin exchange, filed for protection from creditors about four years ago after disclosing that it lost 850,000 Bitcoins. Based on the yen raised and the number of coins sold, the latest disposal received an average price of $8,100 per Bitcoin, according to calculations by Bloomberg.

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Bitcoin Trading Volumes On the Surge Amidst Argentina Inflation Crisis

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Bitcoin Trading Volumes On the Surge Amidst Argentina Inflation Crisis. Argentina and a number of South American States are witnessing huge purchasing volumes for Bitcoins. The economic situation in Argentina almost seems short-lived, making it almost impossible to come up with a lasting financial solution. Bitcoin markets in Both Argentina and Venezuela perform around $6,556.89 while the prices in the rest of the markets seem to be below $6,000.

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Yesterday


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New Study Argues Tether Wasn't Used to Prop Up Bitcoin Price

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New Study Argues Tether Wasn't Used to Prop Up Bitcoin Price. Following an earlier report by researchers from the University of Texas alleging that stablecoin Tether (USDT) issues new tokens to manipulate the bitcoin price, a new report has emerged debunking this theory. Written by Dr. Wang Chun Wei of the University of Queensland Business School, the report states that, contrary to the conclusion of the earlier study by John Griffin and Amin Shams, the effect of Tether is statistically insignificant as far as bitcoin pricing is concerned. According to Wei's report, which uses VAR analysis — a model used to discover meaningful relationships between variables over a period — no evidence was found to suggest the influence of tether in bitcoin’s record-breaking price spike in December 2017.

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Bitcoin Price Intraday Analysis: BTC/USD Reverses from Bear Flag Top

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Bitcoin on Monday depreciated more than 2 percent against the US Dollar from its bear flag top from Saturday. The BTC/USD kickstarted Asian trading session by consolidating sideways near-term between 6688-low and 6722-high. The BTC/USD expects to either consolidate sideways in medium-term or continue its downtrend concerning the current descending trendline. As long as Bitcoin stays capped under the falling trendline, we cannot stop being bearish. A consolidation pattern, in the meantime, could put us inside a channel defined by 6851-fiat as resistance and 6113-fiat as support. As we have just reversed after forming a bear flag top, short sentiments toward the support could prove higher, which would have our RSI indicator and Stochastic oscillator take a drop towards their respective selling regions.

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Bitcoin Finding a Bottom May Be the Sign Bulls Are Waiting For

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Bitcoin Finding a Bottom May Be the Sign Bulls Are Waiting ForBy. September 24, 2018, 12:17 PM EDT. Formation of buying divergence seen sending a postive signal. The digital currency is lingering above both the price and trend lines and a buying divergence is forming, flashing a positive signal, according to pricing charts that analysts use to forecast future price moves. Cryptocurrencies including Bitcoin and Ethereum have been trading sharply lower all year due to increased regulator scrutiny and fears that adoption of digital currencies could take longer than some had anticipated.

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As Bitcoin Goes, So Do Other Cryptocurrencies

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Bitcoin remains highly correlated with the other digital coins, known aptly as the altcoins. When bitcoin rises, these altcoins, such as ethereum, ripple, bitcoin cash, litecoin and monero, move in tandem. Bitcoin has a positive correlation with the other coins, ranging from 0.74 to 0.95, nearly reaching a score of 1 that would give it a perfect correlation, says Mati Greenspan, a senior market analyst at eToro, a Tel Aviv-based social investment network. [See: 7 of the Best Cryptocurrencies to Buy.]. Since December, bitcoin, which is lightly regulated, has given investors a show, hitting a high of $20,000 before dipping to $8,500 by mid-March and ultimately reaching lows in the $6,000 range, wiping out billions of dollars in market cap because of extreme volatility, hacking and orders from regulators. Large losses are not unusual for bitcoin and other digital currencies. While the losses in ethereum, the second-largest digital currency, are sometimes are larger than bitcoin and the dips in ripple are fewer compared to bitcoin, those were only coincidences as the reverse has occurred, says Greenspan.

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Crypto Prices Fall; Report Suggests Tether Has No Impact on Bitcoin

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Crypto Prices Fall; Report Suggests Tether Has No Impact on Bitcoin. Investing.com - Cryptocurrencies fell on Monday, while Bitcoin eased from a two-and-a-half-week high as an academic study found that Tether does not impact its price. Cryptocurrencies overall were lower, with the coin market cap of total market capitalization at $219 billion at the time of writing, compared to $228 billion on Sunday. A report from the University of Queensland Business School found that any impact of Tether on Bitcoin prices and trading volumes is temporary, with volume returning to normal within five days.

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